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Dell, HP Inc. Fall on Concerns Strong PC Sales Have Peaked

  • HP says supply constrained by shortages of semiconductors
  • Both computer makers report revenue that far topped estimates
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Dell Technologies Inc. and HP Inc. reported revenue and earnings that showed consumers and companies continue to buy personal computers even as pandemic lockdowns ease in some parts of the world. The strong results didn’t help the stocks, which declined.

Round Rock, Texas-based Dell said fiscal first-quarter sales rose 12% to $24.5 billion, compared with analysts’ average estimate of $23.3 billion, according to data compiled by Bloomberg. HP reported revenue in its fiscal second quarter jumped 27% to $15.9 billion, also topping estimates by $1 billion. HP also raised its annual profit target.